Trilogy Real Estate Group, a Chicago-based real estate investment and property management firm, announced that its latest Delaware statutory trust offering, Trilogy Franklin, Wisconsin Multifamily DST, has been fully subscribed. Approximately $58.5 million in equity proceeds from the offering, along with $43.1 million in debt financing, were used to acquire Velo Village Apartments — a 265-unit, Class A luxury multifamily community located in the Milwaukee suburb of Franklin, Wisconsin.
“The successful sellout of the DST reflects strong investor confidence in Trilogy’s track record and our commitment to expanding in key markets across the Midwest and Southeast,” said Matt Leiter, chief commercial officer of Trilogy Real Estate Group. “We look forward to identifying additional opportunities that align with our investment philosophy and deliver value to our investors.”
Velo Village is located fifteen miles from downtown Milwaukee off Highway 36 at 7235 S. Ballpark Drive. Built in 2020, the community consists of 265 one-, two-, and three-bedroom apartment homes averaging 988 square feet. Residents enjoy luxury finishes that are on-trend with single-family homes. The access-controlled community features a resort-style heated pool with a sun shelf and loungers, a state-of-the-art fitness center with retractable walls and Precor and Les Mills equipment, reservable electric bikes, a pet spa, an enclosed dog park, and heated underground parking.
Residents of Velo Village enjoy convenient access to both suburban and downtown employers while living with on-site access to Oak Leaf Trail, a 135-mile multi-use trail system that boasts dozens of easily accessed connections, leading almost anywhere within the Milwaukee metro area. Additionally, the community is seamlessly integrated within Ballpark Commons, a 200-acre sports and entertainment destination that draws 300,000 tourists per year.
Milwaukee is ranked #4 in Fortune 500 headquarters per capita with major local employers including Northwestern Mutual, Aurora Health Care, and Ascension.
Trilogy Real Estate Group acquires, develops and manages properties across the Midwest and the Southeast, and has sponsored more than 16 investment offerings, including DSTs and qualified opportunity zone funds. Since 2002, the principals of Trilogy have successfully invested in real estate assets valued in excess of $5.5 billion.
Trilogy Real Estate Group is a vertically integrated real estate investment and management firm with $2.6 billion of total assets under management. Trilogy buys, builds and manages institutional quality apartment communities throughout the United States. Through several investment cycles, Trilogy and its affiliates have developed, acquired, and redeveloped over 14,000 units accounting for over $5.5 billion in transaction volume. Trilogy has been consistently recognized as one of the top property management companies and has an “A” rating in the epIQ Index. Trilogy, together with its wholly owned subsidiary, Trilogy Residential Management, has over 200 employees and is headquartered in Chicago.
